through my work because I already have it privately with my family. Is this medicare thing some general thing everyone pays along with the state and social security taxes or what?
2007-06-17 06:02:59 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Medicare is something people must pay into, like social security. It's not current health insurance.
2007-06-17 06:11:59 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Medicare is not your ordinary health insurance coverage. You are covered by Medicare once you reach retirement age or become totally and permanently disabled.
You generally cannot opt-out of Medicare. All wages are subject to Medicare taxes, it's not optional. (There are rare exceptions for certain teachers, railroad employees, and religious groups. Those groups are covered by similar old-age and disability and retirement plans so they don't pay in to SS or Medicare but do normally pay for the coverage that they do receive.)
2007-06-17 13:53:43 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Medicare is part of your Social Security taxes.
2007-06-17 21:24:37 · answer #3 · answered by Steve 6 · 0⤊ 0⤋
Yes.
It's similar to Social Security and State/Federal Taxes. A non optional deduction.
2007-06-17 13:10:40 · answer #4 · answered by Riot 3 · 1⤊ 0⤋
yes. medicare is a health program designed for people of retirement age who are collecting social security. everybody pays into it.
2007-06-17 13:11:48 · answer #5 · answered by thinker 2 · 1⤊ 0⤋
medicare is NOT health insurance offered by your employer. it is a tax, paid to the government, that your employer matches. it is equal to 1.45% of your pay, and there is no ceiling like there is for oasdi
2007-06-17 18:39:06 · answer #6 · answered by johnec4 3 · 0⤊ 0⤋